Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2023 during the closing activities of its Fall 2022 National Meeting in Tampa, Florida. Missouri Department of Commerce and Insurance Director Chlora Lindley-Myers was elected President for the 2023 term. She is the first woman of color to hold the position since the […]
Major legislation was passed by the Florida House of Representatives and Senate (SB 2-A) to revamp the Florida property insurance system. The new law creates a $1 billion reinsurance fund to provide critical support for carriers, many of whom have suffered in the violent storm seasons the past two years. The session comes after Hurricane […]
The Kentucky Department of Insurance (Department) has issued Advisory Opinion 2022-0002, which clarifies the Department’s interpretation of the requirement for insurers to notify insureds of their right to reject the limitation of their tort rights. This Advisory Opinion was issued May 26, 2022, and was effective upon that day. Every insurance company when issuing an […]
West Virginia Governor Justice announced, on September 22, 2021, the appointment of former Insurance Commissioner Allan McVey as the new West Virginia insurance commissioner, filling the position recently vacated by Jim Dodrill. The appointment requires the advice and consent of the Senate. McVey, who recently served as secretary of administration, served as commissioner from March […]
Effective March 28, 2018, all private passenger automobile insurers in Idaho must use the NEW Uninsured and Underinsured Motorist Disclosure found in which includes election/selection form found in Appendix A of the Idaho Administrative Code at IDAPA 18.01.20 Section .016. Carriers must begin using the new form for all new policies and those existing policies where UM or UIM […]
The Florida Legislature is planning to take another stab at ending claims abuses blamed for property insurance rate hikes. Property insurers (homeowners and commercial property insurers alike) are battling the well-financed trial attorneys to bring an end to the manipulative self-serving generation of attorney fees from excessive lawsuits by repair contractors working under an affidavit […]
Assemblywoman Marlene Cabride, who has served in the New Jersey General Assembly since 2012 (4 terms), has been nominated as the next Department of Banking and Insurance (DOBI) Commissioner. Replacing current Commissioner Richard Badolato. Upon Senate confirmation, Caride will oversee the state Department of Banking and Insurance, which regulates the state’s banking, insurance, and real […]
The Virginia State Corporation Commission has appointed Scott White Commissioner of the Virginia Bureau of Insurance effective January 1, 2018. He succeeds the retiring Jacqueline Cunningham. The bureau licenses, regulates, investigates and examines insurance companies, agencies and agents on behalf of the citizens of the Commonwealth of Virginia with a staff of about 195 state […]
Ohio’s House Bill 49, has been enacted with an effective date of September 29, 2017, and includes provisions that allow insurance companies to send notices of cancellation for nonpayment of premium with a billing notice. This bill adds to ORC Section 3937.25 and Section 3937.32: “An insurer may include a notice of cancellation of a […]
South Carolina Auto Insurance must cover moped use under the uninsured motorist and underinsured motorist coverage. On June 21, 2017, South Carolina Director of Insurance Ray Farmer issued Bulletin Number 2017-03. Mopeds are now included in the definition of a motor vehicle for the purposes of uninsured and underinsured motor vehicle insurance coverages (only) pursuant […]
